It was interesting reading the twitter reaction to François Hollande’s victory in the French Presidential Election yesterday evening. Those on the Right complained about the high tax rate that he might impose on the rich (fairness is a concept lost on the Right), while Lefties cheered and welcomed M. Hollande as a rejection of the austerity projects being carried out by many European governments at the moment.
Now, I’m not in the position at the moment to determine the exact factors surrounding Nicholas Sarkozy’s ejection from the Elysée Palace, but if you look at the reaction of people across Europe you get the impression that austerity isn’t popular. From here in the UK were the Conservatives and Liberal Democrats took a battering in the local elections, to Greece where the radical, anti-austerity parties received a lot of support, to France with Hollande’s victorious, pro-growth campaign.
Surely this spells out to David Cameron, Nick Clegg and George Osborne that people do not like losing their public services to pay for the mistakes of the financial sector. People are a little angry that their local library has been closed down, while the likes of Vodafone and Goldman Sachs are avoiding paying their multi-million pound tax bills. The Right might say “the people have voted for financial irresponsibility”, but the reality is people are fed up of governments supporting the rich and squeezing the poor.
Is François Hollande’s victory a rejection of Austerity? I hope so.